KOGAS in $4.9 Billion Project
By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair […]
Al-Khatteeb: The Abadi I Know
By Robert Tollast. Iraq Energy Institute Director and Brookings Fellow Luay al-Khatteeb (pictured) has written a biography piece for Haider-al Abadi for The Huffington Post. Al-Khatteeb outlines some of the huge challenges Abadi faces, but notes that from 24 years of knowing PM Abadi, the new Iraqi premier is well suited to take on the momentous […]
US Plans New Iraq Strategy
By John Lee. The United States is now far more open to Iraqi requests for increased military support to fight ISIS, The Wall Street Journal reports. Previously, initiatives to sell arms and rapidly transfer foreign military sales such as F-16s and Hellfire missiles have been slowed by concerns in Congress regarding Nouri-al Maliki's authoritarian style of leadership. […]
Pro-Government Sunnis Launch Offensive
By John Lee. Thousands of fighters from as many as 25 pro-government tribes have launched a coordinated offensive against ISIS fighters in the Western Iraqi province of al-Anbar. The leader of these "Sahwa" fighters, Sheikh Abdel Jabbar Abu Risha, announced that the offensive was not related to Maliki stepping down and had been planned for […]
Britain's RAF Expands Role
By John Lee. British Prime Minister David Cameron has been defending his case that the UK should expand its role in the current crisis in Iraq. He argued that the world was increasingly interconnected, ISIS were a unique and particularly extreme terror threat and that they will pose a threat to Europe if allowed to […]
Kurdish Oil Finds Buyer
By Patrick Schmidt. A Kurdish oil tanker has arrived at the Croatian port of Omisalj and is preparing to begin offloading its cargo in the coming days. This delivery represents a success for the Kurdish Regional Government (KRG) in finding a buyer for their crude following legal threats from Baghdad. These threats have previously deterred […]
Peshmerga, US Strikes Capture Mosul Dam
By Patrick Schmidt. After remaining in the hands of the Islamic State (IS) the Mosul Dam and surrounding areas have been mostly recaptured by Kurdish security forces. American airpower over Northern Iraq assisted the Kurdish in recapturing the facility during their offensive. The United States announced that it had launched 14 strikes against Islamic State […]
Biography of New Prime Minister, Haider al-Abadi
Rabee Securites has issued the following biography of Iraq's new Prime Minister, Haider al-Abadi [Haydar al-Abbadi]: CV of Haider Jwad El-Abadi, the New Prime Minister: H. E. El-Abadi was born in Baghdad, in 1952. He is married and has three children. His father was Dr. Jwad El-Abadi. He was a doctor and the management director […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th August 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,452 (+8.4%)/ $1,549 (+8.4%) (weekly change) (-22.1% and -22.0% YTD change, respectively). The number of week traded shares […]
Video: Will Maliki’s Resignation Save Iraq?
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Prime Minister Nouri al Maliki has agreed to step down at a time of national crisis and deep division.
CBI Currency Auction Results, 17th Aug
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Sunday. A total of $240,785,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shell wants Pier and Petrochemical Factory
By John Lee. Shell has had discussions with Iraqi Ports Administration regarding the possibility of acquiring a piece of land at the Umm Qasr terminal to build a pier and petrochemical factory. According to Aswat Al Iraq, talks between the two sides were held to discuss the project which shall be administered by the company […]